This compound is primarily utilized in organic synthesis as a chiral catalyst, particularly in asymmetric reactions where high enantioselectivity is required. Its structure, featuring a rigid indeno-triazolo-oxazinium core, enables effective control over stereochemistry in the formation of complex molecules. It is often employed in the synthesis of pharmaceuticals, agrochemicals, and fine chemicals, where the production of a single enantiomer is critical for activity or efficacy. Additionally, its tetrafluoroborate counterion enhances solubility and stability in various organic solvents, making it suitable for use in a wide range of reaction conditions.